Seaweed Market has increased its sales having 7.5%CAGR forecast 2023
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Market Definition:
Due to the rising demand of nutritional foods and alginates in food products, the seaweed market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Agriculture sector among others, recently forecasted in its report on Global Seaweed Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
Market Scenario:
Rising consumer awareness & their indulgence in buying healthy products, informed consumers with clear perceptions and their willingness to engage in buying healthy goods are some of the elements that come together and fuel the demand of seaweed globally. With growing demand of plant-based ingredients among the health conscious consumers along with various health benefits associated with its consumption including beneficial proteins, antioxidants, minerals, dietary fiber, trace elements, and polyunsaturated fatty acids fuel the demand of seaweed at the global level. Altering consumer spending patterns, consumer tastes, regional, national, and local economic conditions, demographic shifts are the major microeconomic and macroeconomic factors impacting the market growth. With growing consumers’ health awareness and pursuit of healthy attributes, as well as corresponding purchasing behaviors, has opened up new market opportunities for industrial players to tap the unexplored market horizons.
Seaweed in dry and granular form can replace some of the flour while producing dry pasta, bread, pizza, snack bars, and others and in meat products, use of seaweed carries health benefits in form of lower cholesterol level and higher dietary fiber and antioxidants. With growing consumer inclination towards health-enhancing food, seaweed-flavored food and beverages will be in huge demand. Seaweed is a natural salt replacer and possess anti-inflammatory, antioxidant, and antimicrobial properties which not only controls cholesterol & blood pressure but also helps in digestion and weight management. This has enhanced the market growth trajectory of the sector to an elevated level. Seaweed is considered as multi-purpose product which is majorly used for both human and animal nutrition. The multi spectrum application sector of seaweed including its use in manufacturing bio-fuel, biomass, and waste water management has further spurred the product demand.
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Key Players
The key players profiled in the Global Seaweed Market are Cargill Foods (U.S.), P.L.Thomas and Co., Inc (U.S.), Ingredients Solutions, Inc. (U.S.), Snap Alginates (India), Polygal Ag (Switzerland), Arthur Branwell & Co., Ltd (U.K.), Kimica Alginates (Japan)
Key Findings:
Powdered form of the product is evaluated to grow at a steady rate
Top exporters of Seaweed include China, Japan, U.S., U.K. and Canada
Intended Audience
- Seaweed Manufacturers
- Textile Industries
- Food Industries
- Retailers and Wholesalers
- Traders, Importers and Exporters
Segments
- The global Seaweed market has been divided into shape, type, distribution channel, and region.
- On The Basis Of Type: Brown Seaweed, Green Seaweed, Red Seaweed
- On The Basis Of Form: Powder, Liquid, Flakes, Others
- On The Basis of End Use: Textile Industry, Food, Paper and Pulp, Welding Rods, Pharmaceuticals, Personal Care products, and Others
- On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Regional Analysis
The global Seaweed market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Seaweed market is highly dominated by Asia-Pacific followed by North-America. China, Indonesia, the Philippines, South Korea and Japan are the leading markets in the Seaweed industry. Owing to increasing disposable income, changing lifestyle, evolving dietary pattern and growing demand of natural & healthy products, there has been surge in demand of seaweed in developing economies. Thailand, Japan, China, Australia and U.S. are the major importers of seaweed. European seaweed market is projected to grow at a high CAGR during the forecast period.
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